Credit card holders must be aware of the latest rules about credit scores this year to stay up to date of certain changes.  According to CreditKarma.com, the average credit score all over the country is 666.  Based on CreditKarma.com’s statistics, the starting point to be permitted for an auto loan, mortgage and unsecured credit card, you have to obtain a 660 credit score which is the inclination in most lenders.  Looking at most consumers’ credit status, almost 40% of them have a credit score of way below 660.  It shows that out of ten Americans, 4 of them have a high chance of being denied for an auto loan, mortgage and qualify for a secured credit card.

Excerpt:

“Based on CreditKarma.com’s data, the trend amongst lenders shows that a 660 credit score is the threshold to be approved for a mortgage, auto loan and unsecured credit card.”

Original article can be found at:

http://www.forbes.com/sites/moneywisewomen/2011/08/19/the-new-credit-score-rules/

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